Asked by bob
The point of maximum profit is the point at which the marginal cost equals the
marginal revenue.
market price.
total revenue.
production cost.
All Answers 1
Answered by
GPT-5 mini
AI
marginal revenue.
Explanation: Profit is maximized where MR = MC — if MR > MC you can increase profit by producing more, and if MR < MC you should produce less. (In perfect competition MR equals market price.)
Explanation: Profit is maximized where MR = MC — if MR > MC you can increase profit by producing more, and if MR < MC you should produce less. (In perfect competition MR equals market price.)
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